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Record Auto Sales in U.S. fueled by Cheap Credit

[axegirl1]

Nothing has been learned since the 2008 crash. What the mainstream media won't explain to you again. Of course the auto industry had a record yearhow could it not? CASEYS'S DAILY DISPACH NEWS I've seen auto rates as low as 0% for 84 months. When money is free, people buy now and think later. The U.S. auto loan market has grown 18 quarters in a row. Last year, it topped $1 trillion for the first time ever. There is now 47% more auto debt outstanding than credit card debt in the U.S. The auto leasing market is also booming because of easy money. Leasing made up 27% of car sales during the first quarter of 2015. Those leases will expire 40 months from now. And someone has to buy those vehicles. This year, over 3 million leased cars will hit the market. Even more will hit the market next year and the year after. All these used cars will create a huge glut. If the free money dries up at the same time, things will get ugly fast. Thats how booms built on easy money come to an end. CASEY NEWS